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 * 05 Dec 2021
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 * 07 Oct 2020
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CALL FOR ACTUARIES TO COLLABORATE WITH GOVERNMENT TO RID SA OF ‘WICKED PROBLEMS’

As the world continues to grapple with the “wicked problems” created by the
Covid-19 pandemic,  governments able to efficiently mobilise their diverse
talent pools appear to be presenting their citizens with better outcomes than
those unable to do so, according to Lusani Mulaudzi, President of the Actuarial
Society of South Africa.

Lusani Mulaudzi, President of the Actuarial Society of South Africa

Addressing the Society’s first ever virtual Convention held earlier this week,
Mulaudzi points out that the Covid-19 pandemic has illustrated the critical
importance of expert advisers in policymaking, especially when dealing with
“wicked problems”. A wicked problem, a term introduced in 1973 by American
theorists Horst Rittel and Melvin Webber, refers to unique social policy
problems where solutions must be implemented with great care, because they are
usually not reversible and will have far reaching consequences for ordinary
citizens.

Mulaudzi says experts like Fauci and Ferguson have become household names almost
overnight, illustrating the critical importance of the choice of expert advisors
in policymaking. He adds that despite this, most governments still overlook the
skills set available within the actuarial profession, even with the profession’s
excellent reputation as a custodian of financial security systems.

“Insurance is the most well-known example of a financial security system and in
this system actuaries fulfil the roles of designers, adaptors, problem solvers,
risk estimators, innovators and technicians. Although government systems dealing
with public welfare fit the definition of a financial security system, the
involvement of actuaries in shaping these systems remains limited in the most
countries with the exception of the UK, New Zealand, US and a handful of other
jurisdictions.”

Mulaudzi points out that now, more than ever, there is a need for collective
action. “We may not always like politicians, but it is now more important than
ever to work with them and assist them to make the best possible policy
decisions to address the risk of widening inequality.”

According to Mulaudzi, “wicked problems” tend to compound inequality,
particularly in developing countries. Calling on his fellow actuaries to use
their skills to help manage these problems, he points out that this is not
something that can be achieved alone.

“Therefore our focus should be on creating a culture and institutional
frameworks for collaboration with policymakers and other experts.”

He stresses that building a collaborative environment is a two-way street, which
will require the actuarial profession to make a bigger effort to make itself
heard at policymaker level.

He points out that the disconnect between science and policy is not unique to
South Africa. In an effort to address this shortcoming in Europe, the Joint
Research Centre (JRC), which is the European Commission’s science and knowledge
service, prepared a policy handbook that provides advice on how to bring science
to the attention of policymakers.

“This effort is an acknowledgement that science and policy need to cooperate to
address the ‘wicked problems’ of this age. The actuarial profession can take a
leaf from this handbook to learn about the skills and practices for individual
actuarial policy entrepreneurs as well as the institutional framework conducive
for a collaborative relationship.”

Mulaudzi says the Society is committed to facilitating greater collaboration
through pertinent research and public interest work.

“We will continue to invest in our research efforts as part of our drive to
become global leaders in context-based solutions. Our public interest work is at
the forefront of those efforts and soon we will be awarding research contracts
to some of our members to conduct research in identified public policy
challenges.” He concludes that he is confident that the “wicked problems” facing
South Africa can be addressed, but only through collaboration by policymakers
and other experts, including actuaries.




Tagged under:
 * Actuarial Society of South Africa
 * COVID-19
 * Economics
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    * Also tagged under
    * insurance
    * Politics




Visit the official COVID-19 government website to stay informed:
sacoronavirus.co.za


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